Today I want to talk to you about something that I’ve been seeing more and more, especially online:
People buying products, services, and programs from their competition so they can see what’s under the hood.
Big companies do this all the time — car companies buy competitors’ cars and take them apart to see what’s awesome, and what could be better for their own designs. Some companies have even admitted they have engaged corporate spies.
When I was studying business at university, a widely accepted method of pricing was to get quotes from competitors to see the range of price points, and what would be included in the quote that may be a value-add.
So all this is okay, right?
Well… it depends who you are and what you stand for.
In today’s episode of She Takes on the World TV, I’m going to delve into this topic of “buying and spying” and share my own experience of having competitors spy on my programs and how I handled it. We’ll also talk about:
- What to do when a competitor signs up for YOUR program.
- How I think the competition deserves to be treated (this one might surprise you).
- The problem with focusing too much on the competition.
- Why I’ll read George R.R. Martin (Game of Thrones author) over any business book or website when I’m in a major creative mode.
My best advice here is to stop giving your attention (and precious energy) to the competition — instead, focus on being the best YOU there is. (Click to tweet)
If you have a different perspective, I’m open to hearing it in a comment below. And if you’ve experienced a competitor buying your stuff, I’d love to hear about that too.
Let’s start a discussion about how we treat our competitors. I want to treat mine with love and respect, and I want to command that same respect.
Thank you so much for watching this episode, and I hope you’ll share it with another entrepreneur you know.